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FEATURED COMPANIES

“The digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022.”

The digital utility market is projected to reach USD 244.31 billion by 2022, at a CAGR of 12.57%, from 2017 to 2022. An increase in the number of distributed and renewable power generation projects, energy efficiency mandates demanding carbon emission reduction, and strict regulatory requirements for electric utilities are the major drivers of the digital utility market. High initial costs can hinder the growth of the digital utility market.

“The retail subsegment of the network segment is expected to grow at the highest CAGR, from 2017 to 2022.”

The retail subsegment of the network segment is expected grow at the highest CAGR, during the forecast period. Electric utilities are gradually transforming from being electricity suppliers to energy service providers, and the customers are also becoming involved in the electric value chain. End-users are installing power generating sources such as solar panels and small wind, among others, to become self-sufficient, and also actively participating in demand response programs.

“North America: The largest market for digital utility”

The market in North America is currently the largest market for digital utility, closely followed by the European market. Rising investments in aging electrical infrastructure and increasing electricity demand are driving the digital utility market in the North America. The market in the U.S. is estimated to be the largest in the region, followed by the markets in Canada and Mexico, during the forecast period.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

By Company Type: Tier 1- 67%, Tier 2- 21%, Tier 3- 12%

By Designation: D-Level- 25%, C-Level- 35%, and Others- 40%

By Region: Americas- 12%, Europe- 68%, and Asia-Pacific- 20%

Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = <USD 1 billion.

The leading players in the digital utility market include Accenture plc (Ireland), Cap Gemini S.A. (France), General Electric Company (U.S.), Siemens AG (Germany), SAP SE (Germany), and International Business Machines Corporation (U.S.).

Research Coverage:

The report defines, describes, and forecasts the global digital utility market by network, technology, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, and key issues. It also covers various important aspects of the market.

Why Buy this Report?

The report identifies and addresses key solutions providers for digital utility, which would help power utilities review the growth in the demand for digital transformation.

The report helps systems providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.

The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.

8 Digital Utility Market, By Region8.1 Introduction8.2 North America8.2.1 By Network8.2.2 By Technology8.2.2.1 By Integrated Solution8.2.3 By Country8.2.3.1 The U.S.8.2.3.2 Canada8.2.3.3 Mexico8.3 Europe8.3.1 By Network8.3.2 By Technology8.3.2.1 By Integrated Solution8.3.3 By Country8.3.3.1 Germany8.3.3.2 The U.K.8.3.3.3 France8.3.3.4 Spain8.3.3.5 Denmark8.3.3.6 The Rest of Europe8.4 Asia-Pacific8.4.1 By Network8.4.2 By Technology8.4.2.1 By Integrated Solution8.4.3 By Country8.4.3.1 China8.4.3.2 Japan8.4.3.3 South Korea8.4.3.4 Australia8.4.3.5 India8.4.3.6 The Rest of Asia-Pacific8.5 Middle East8.5.1 By Network8.5.2 By Technology8.5.2.1 By Integrated Solution8.5.3 By Country8.5.3.1 Saudi Arabia8.5.3.2 The U.A.E.8.5.3.3 Qatar8.5.3.4 The Rest of the Middle East8.6 South America8.6.1 By Network8.6.2 By Technology8.6.2.1 By Integrated Solution8.6.3 By Country8.6.3.1 Brazil8.6.3.2 Argentina8.6.3.3 Chile8.6.3.4 The Rest of the South America8.7 Africa8.7.1 By Network8.7.2 By Technology8.7.2.1 By Integrated Solution8.7.3 By Country8.7.3.1 South Africa8.7.3.2 The Rest of Africa

FEATURED COMPANIES

The global digital utility market is projected to grow at a CAGR of 12.57%, from 2017 to 2022, to reach a market size of USD 244.31 Billion by 2022. An increase in the number of distributed and renewable power generation projects, energy efficiency mandates demanding carbon emission reduction, and strict regulatory requirements for electric utilities will drive the digital utility market during the forecast period.

The report segments the digital utility market, by network, into generation, transmission and distribution, and retail. The transmission and distribution subsegment dominated the network segment as it accounted for the largest part of the spending on aged infrastructure. New digital devices and communications and control systems improve the efficiency of assets and increase the ability of operators to monitor and manage electric transmission and distribution systems.

Based on technology, the digital utility market is segmented into integrated solutions and hardware. Hardware is the largest segment of the digital utility market, by technology. Hardware covers all the equipment in a digital substation, such as smart meters, smart thermostats, programmable logic controllers, and smart transformers, among others. The cost of hardware is high and, hence, the segment accounts for a larger share of the market.

In this report, the digital utility market has been analyzed with respect to six regions, namely, North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The market in North America is expected to lead the global digital utility market during the forecast period, due to the upgradation of aging infrastructure and increase in electricity demand in the region.

Upcoming smart cities and a need to improve the productivity and efficiency of power utilities can lead to opportunities in the digital utility market. But, high initial costs could be a restraint for the digital utility market, leading to declining profits.

Some of the leading players in the digital utility market include Accenture plc (Ireland), Cap Gemini S.A. (France), General Electric Company (U.S.), Siemens AG (Germany), SAP SE (Germany), and International Business Machines Corporation (U.S.), among others. Contracts & agreements and new product launches were the most adopted strategies by players to ensure their dominance in the market.